ValuEngine upgraded shares of Edison International (NYSE:EIX) from a sell rating to a hold rating in a research note published on Friday.
A number of other research firms have also commented on EIX. Citigroup set a $72.00 price objective on shares of Edison International and gave the company a hold rating in a research note on Tuesday, October 9th. Zacks Investment Research upgraded shares of Edison International from a hold rating to a buy rating and set a $79.00 price objective on the stock in a research note on Wednesday, October 10th. Bank of America lowered shares of Edison International from a buy rating to a neutral rating and lifted their price objective for the company from $72.00 to $75.00 in a research note on Thursday, October 11th. Argus lifted their price objective on shares of Edison International to $80.00 and gave the company a buy rating in a research note on Thursday, October 11th. They noted that the move was a valuation call. Finally, Wells Fargo & Co lifted their price objective on shares of Edison International from $76.00 to $80.00 and gave the company an outperform rating in a research note on Monday, September 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. Edison International has a consensus rating of Hold and an average target price of $69.96.
NYSE EIX opened at $58.51 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.66 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $19.06 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 2.38 and a beta of -0.01. Edison International has a one year low of $45.50 and a one year high of $73.31.
Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 30th. The utilities provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.25. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $3.47 billion. Edison International had a net margin of 4.47% and a return on equity of 10.61%. Edison International’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 earnings per share. Equities analysts anticipate that Edison International will post 4.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Monday, December 31st will be paid a dividend of $0.6125 per share. This represents a $2.45 dividend on an annualized basis and a dividend yield of 4.19%. This is a positive change from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, December 28th. Edison International’s payout ratio is 53.78%.
Institutional investors have recently modified their holdings of the company. Covalis Capital LLP acquired a new position in shares of Edison International during the second quarter worth about $11,857,000. Nisa Investment Advisors LLC boosted its holdings in Edison International by 17.0% during the third quarter. Nisa Investment Advisors LLC now owns 37,125 shares of the utilities provider’s stock worth $2,513,000 after buying an additional 5,385 shares in the last quarter. AMP Capital Investors Ltd boosted its holdings in Edison International by 16.4% during the second quarter. AMP Capital Investors Ltd now owns 673,119 shares of the utilities provider’s stock worth $42,588,000 after buying an additional 94,850 shares in the last quarter. KCS Wealth Advisory boosted its holdings in Edison International by 15.8% during the third quarter. KCS Wealth Advisory now owns 13,739 shares of the utilities provider’s stock worth $930,000 after buying an additional 1,872 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its holdings in Edison International by 35.3% during the second quarter. Commonwealth Bank of Australia now owns 49,681 shares of the utilities provider’s stock worth $3,136,000 after buying an additional 12,971 shares in the last quarter. Institutional investors and hedge funds own 83.35% of the company’s stock.
About Edison International
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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